Kejora, Intervest hit final close of Southeast Asia fund at over $100m

Indonesian venture capital firm Kejora Ventures has hit the final close of its joint fund with South Korean counterpart Intervest, in an oversubscribed fundraise which surpassed the original target of $100 million.

The fund brings together a group of prominent LPs such as Korea Development Bank, Korea Venture Investment Corporation, NH Investment & Securities and Industrial Bank of Korea. Other LPs include Barito Pacific Group of Indonesia, a leading commercial bank, and a pension fund from Southeast Asia.

The Kejora-InterVest Star Growth Fund provides capital of $5-10 million for each potential tech startup investment in their growth stage.

Prior to the final closing, the fund has already started making investments in various companies across the region. The latest and one of the notable investments is its participation in the $50-million Series A investment for SiCepat Ekspres, an up and growing last mile delivery in Indonesia – marking the largest Series A round recorded in Southeast Asia.

“With the final close, we are now putting all our focus on deploying the Fund,” said Kejora’s founding partner Sebastian Togelang. “We are looking into verticals in finance, logistics and education technology, though we keep our eyes open to the potential trends and other blooming industries. We also emphasize on collaboration amongst our portfolio to help each other grow even faster.”

As of March 2019, Togelang told DEALSTREETASIA that almost 30 per cent of the fund had already been deployed.

Other investments include financial marketplace startup C88 Group, Korea-based SmartStudy, the company behind the worldwide success of Baby Shark phenomenon, and fashion e-commerce company Sorabel.

The final close of the fund, which is Kejora’s third fund, comes over a year after the first close in December 2017, when it raised more than half of the targeted size at $60 million from limited partners including Korea Venture Investment Corp, a trust backed by Korea Development Bank and other investors.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.